With Iraq's parliamentary elections scheduled for Wednesday 30th April, this week's newsletter has a special section dedicated to the election and related news. In all, 9,045 candidates will compete to fill 328 seats, and much depends on the outcome. As a cross-section of Iraq's best-informed people, what do you, our readers, forecast as the outcome […]
By John Lee. According to shipping data tracked by Reuters, oil exports from Iraq's southern terminals are heading for a record high in April. An average of 2.55 million barrels per day were shipped in the first 23 days of April, which if sustained would top February's 2.50 million bpd, the highest since 1979. Southern […]
By John Lee. Norwegian company Hexagon Ragasco, a wholly-owned subsidiary of Hexagon Composites, has received an order of USD 13.6 million for the supply of LPG cylinders to Iraq. The order is for delivery in the second half of 2014. Jon Erik Engeset (pictured), CEO of Hexagon Composites, commented: "We are very pleased with the performance […]
By Omar al-Jaffal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. [Picture: Iraqi women voters in the last election.] The coming Iraqi parliamentary election cycle, scheduled for April 30, is marked by an intensive presence of female candidates on the different lists of […]
By John Lee. Russia is preparing to deliver a new batch of highly-sophisticated military helicopters to Iraq late June, according to a report from Kuwait's KUNA. The new batch will include Mi-35 (pictured) and Mi-28NE 'Night Hunter' attack helicopters, and is part of the $4.2 billion deal signed in 2012. To date, Baghdad is reported […]
By John Lee. Reuters reports that mobile phone company Zain is being sued for $4.5 billion over its 2007 acquisition of Iraqi telecom operator Iraqna. The company bought Iraqna for $1.2 billion from Egypt's Orascom Telecom after it dropped out of the running for a long-term mobile licence in Iraq. According to Reuters, the Kuwaiti firm […]
By John Lee. The Committee to Protect Journalists (CPJ) reports that journalists in Iraqi Kurdistan say they must self-censor on topics like religion, social inequality, and corruption associated with powerful officials. Their report states that over the past few years the nonprofit advocacy group Metro Center to Defend Journalists, based in Sulaymaniyah, has recorded in […]
U.S. Ambassador Stephen Beecroft (pictured) and U.S. Embassy staff met on Tuesday April 22 with Mr. Sarbast Rashid Mustafa, the Chairman of the Independent High Electoral Commission (IHEC) and Mr. Muqdad Alsharify, the Chief Electoral Officer of IHEC. Chairman Mustafa and CEO Alsharify outlined for the Ambassador the extensive plan that IHEC has in place […]
By John Lee. Kuwait-based Zain reported an 8 percent rise in first-quarter profit on Monday, as earnings from Iraq and its domestic business rose. According to the company's report: "Zain Iraq ... performed exceptionally well in the first quarter of 2014 with revenues of US$432.3 million, EBITDA of US$167.8 million and net income of US$78.3 […]
Genel Energy has issued the following Interim Management Statement for the period from 1 January 2014 to today (Tuesday 2nd April). The statement was issued ahead of the company'ss Annual General Meeting. PRODUCTION AND REVENUE 2014 production and revenue guidance unchanged at 60,000-70,000 boepd and revenue of $500-600 million Net working interest production for the […]
The Kurdistan Regional Government (KRG)'s Ministry of Natural Resources (MNR) announces the publication of its Annual Financial Report for 2013, a detailed and comprehensive guide to the financial operations of MNR. The report includes revenue figures from crude oil production, local crude oil sales, the selling of refined products, and bonuses and capacity-building support derived from […]
Under the framework of the IPSM-Phase II Programme, a knowledge sharing workshop was conducted to familiarize the concerned participants from the two pilot areas in Duhok and Najaf on decentralized water management with reform success stories and challenges. The event was held in Erbil, in the General Directorate of Water and Sewerage on 14-15 April […]
